REGISTERED NUMBER:
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SCDP VENTURES LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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REGISTERED NUMBER:
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SCDP VENTURES LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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SCDP VENTURES LTD (REGISTERED NUMBER: 11977218) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Statement of Financial Position | 3 |
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Notes to the Financial Statements | 5 |
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SCDP VENTURES LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Tudor House |
16 Cathedral Road |
Cardiff |
CF11 9LJ |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SCDP VENTURES LTD |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SCDP Ventures Ltd for the period ended 31st May 2020 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of SCDP Ventures Ltd, as a body, in accordance with the terms of our engagement letter dated 31st March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of SCDP Ventures Ltd and state those matters that we have agreed to state to the Board of Directors of SCDP Ventures Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SCDP Ventures Ltd and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that SCDP Ventures Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SCDP Ventures Ltd. You consider that SCDP Ventures Ltd is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of SCDP Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Tudor House |
16 Cathedral Road |
Cardiff |
CF11 9LJ |
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Date: ............................................. |
SCDP VENTURES LTD (REGISTERED NUMBER: 11977218) |
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STATEMENT OF FINANCIAL POSITION |
31ST MAY 2020 |
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Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SCDP VENTURES LTD (REGISTERED NUMBER: 11977218) |
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STATEMENT OF FINANCIAL POSITION - continued |
31ST MAY 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SCDP VENTURES LTD (REGISTERED NUMBER: 11977218) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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1. | STATUTORY INFORMATION |
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SCDP Ventures Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The COVID-19 pandemic has had a significant negative impact on the UK economy. |
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Given the rapidly evolving nature of the situation and lockdowns, it is difficult to quantify the impact of Covid-19, and the directors recognise that in the longer term its effect may be more significant. |
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The company is continuing to generate cash reserves, and the directors believe that this will be sufficient to withstand any further economic downturns caused by the pandemic. |
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At this time, any long-term effect on the company is unknown, but the directors remain confident of the financial position of the company. |
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Given the above, the directors are confident that it is correct to prepare the accounts on a going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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SCDP VENTURES LTD (REGISTERED NUMBER: 11977218) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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At 31st May 2020 |
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NET BOOK VALUE |
At 31st May 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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Bank loans |
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The bank loan balances relate to a Mortgage from Julian Hodge Bank Limited. |
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The mortgage is secured by way of a fixed charge over the freehold property known as 29 Windsor Place, Cardiff, CF10 3BZ and registered at land registry under the title number WA352721; and the leasehold property known as Parking spaces 1-5, 21 Windsor Place, Cardiff and registered at land registry under the title number CYM639673. |
SCDP VENTURES LTD (REGISTERED NUMBER: 11977218) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 3RD MAY 2019 TO 31ST MAY 2020 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £0.01 | 4 |